Singapore, 14 April 2022 — MAP Protocol(MAP), the leading cross-chain interoperability solution, has announced the addition of an oracle provider, NEST Protocol, to the MAP ecosystem. This integration will make end-to-end customizable oracles available to MAP-powered dApps. In line with the NEST deployment on MAP, MAP Protocol can accelerate the process of bringing the many great benefits of NEST to the MAP ecosystem. Dapps on the Makalu network, the testnet of MAP Protocol, are also able to use NEST oracle.
Since 2018, MAP Protocol development team has been committed to the principle of decentralized asset contract custody and calls, as well as continued to push development and operation. With hard work and effort, MAP Protocol’s ecosystem is growing rapidly and widely acknowledged as the best player in the cross-chain interoperability field.
NEST Protocol is a distributed price oracle based on the Ethereum network. It utilizes a unique “quote mining” mechanism to provide unparalleled fairness and accuracy for asset pricing and market-making. NEST offers the ‘channel’ tool, through which everyone can open a new quote channel and configure the economic model for that. What’s more, any channel can make bulk quotes for any tokens.
In lockstep with the rise of DeFi, oracles have quietly become the foundational element for emerging DeFi applications, as dApps depend on reliable, verified external data feeds. With the majority of MAP ecological projects operating solely on the MAP blockchain, NEST will specifically source data feeds of MAP Network native assets by scraping information directly from MAP native markets, such as HiveSwap. This will enable MAP-native projects to receive data from a MAP-native oracle, ensuring a frictionless, transparent, and customizable data infrastructure with maximum coverage of asset price data.
NEST integration with MAP will allow developers within the MAP network to build unique price feed oracles, customizing the specific methodologies used and the data sources to deliver maximum adaptability and transparency.
MAP’s Eco Director, Vincent, said of the integration, “Thanks to this partnership, MAP Protocol can accelerate the process of bringing the many great benefits of NEST to the MAP ecosystem. We are very excited to contribute to its adoption by helping new dApps have access to transparent and reliable data. Developers on MAP can now start using NEST oracles to build new use cases for any digital asset.”
About NEST Protocol
NEST oracle adopts the market game theory to synchronize the off-chain market price information onto the chain through miners’ quotations. NEST mining mechanism aims to incentivize quotation miners, making it a logically closed-loop distributed quotation system with the breaking features of collateral quotation, arbitrage verification, price chain, beta coefficients, and other modules. Currently, NEST Protocol is deployed on multi-chain, including Ethereum/Polygon/MAP/KCC/BNB.
Website: https://nestprotocol.org/
Twitter: https://twitter.com/nest_protocol
Telegram: https://t.me/nest_chat
